7511 Lafayette RdLodi, OH 44254

Property Details for 7511 Lafayette Rd

Year built

1948

Construction

WOOD

Lot size

1.59 AC

Property size (Sq ft)

2,600 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

020-10C-31-013

APU

02010C31013

Description

This exceptional mixed-use property in Lodi, Ohio, presents a unique investment opportunity. Located on a spacious 1.59-acre lot at 7511 Lafayette Rd, this 4,320 square foot building boasts a fully equipped restaurant and a 2-bedroom, 1-bathroom apartment. Previously operated as a restaurant from 2016-2022, the commercial space includes all contents: two walk-in coolers, a full bar, kitchen equipment, seating, and patio furniture. Significant recent upgrades enhance its appeal: a new gas line (2022), new furnace and electrical system (2022) for the restaurant, and a new commercial septic system (2022). Further improvements include newer windows, siding, roof, and well (2016-2019). The property is handicap accessible and zoned for restaurant/bar use. The asking price is $189,900, translating to $43.96 per square foot. With ample parking for 50 vehicles, this Class C building, constructed in 1948 and renovated in 2016, offers significant potential for a variety of uses. The property is being sold "as is." This is a rare chance to acquire a turn-key operation with substantial recent investments in a desirable Medina County location. The property is currently vacant.

• CAP approach

  CAP return

  Valuation

  6%

  $726,857

  6.5%

  $670,945

  7%

  $623,020

• Comparable approach

  Method

  Valuation

  Relative Method

  $612,874

  Geo Method

  $612,874

• Alternative Use

  Use

  Valuation

  Residential

  $565,967

  Hospitality

  $518,423

  Educational

  $431,322

  Medical

  $446,156

  Retail

  $670,945

Location Insight

City

Lodi

County

Medina

State

Ohio

Latitude

41.068

Longitude

-81.9672

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].